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if you look at the chart, you can see that the most income from our taxes come from individual taxes. the third bar is corporate taxes and you can see the 7.9%. now, we have about $200 billion from corporate taxes. that is how much our government received from corporations. that was for prfits in the year 2011. $2 trillion. if you can figure it out, that's a 10% tax rate. in other words, there are so many deducons and special deals for the high rollers, the big people. even at 35%, we don't get a good deal. neil: mitt romney got in trouble when he tried to clarify just that view. but i'm not going to lower taxes as much as you think, i'm going to get rid of a lot of deductions and he left himself open to critics who said wait a minute, you were tax cuts are worth the paper they are printed on. but the goal is to get to a simpler tax code that when you takout some of the extraneous write-offs and allowances, credits, etc., and that he will get it something that makes it a black-and-white case,. >> and there is a question which is why don't politicians wanted. you would assume that they
if you look at the chart, you can see that the most income from our taxes come from individual taxes. the third bar is corporate taxes and you can see the 7.9%. now, we have about $200 billion from corporate taxes. that is how much our government received from corporations. that was for prfits in the year 2011. $2 trillion. if you can figure it out, that's a 10% tax rate. in other words, there are so many deducons and special deals for the high rollers, the big people. even at 35%, we don't get...
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romney initially said his disparaging remarks about the 47 percent of americans who don't pay taxes, was "not elegantly stated." but asked in an interview last night, how he would have responded if the "47 percent" comment came up during the debate with president obama. romney replied that his comment was "just completely wrong." president obama never brought up the issue during the debate. >>former vice president al gore has an explanation for the president's lackluster debate performance. he says it was the altitude. gore made the comment on his 'current t-v' channel during a panel discussion. gore said president obama had arrived in denver the day of the debate and only had hours to adjust to the altitude. mitt romney had been in denver since monday... hence giving his body time to acclamate to the difference in oxygen intake at that high altitude. the city stands a mile above sea level. >>a little girl has been reunited with her puppy, after thieves stole the dog from her home. this is the scene outside marissa. home in san jose, california. earlier this week, thieves stole thous
romney initially said his disparaging remarks about the 47 percent of americans who don't pay taxes, was "not elegantly stated." but asked in an interview last night, how he would have responded if the "47 percent" comment came up during the debate with president obama. romney replied that his comment was "just completely wrong." president obama never brought up the issue during the debate. >>former vice president al gore has an explanation for the...
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raising taxes on the average family by up to $2000 dollars. while giving a tax break of $250,000 dollars to multi-millionaires. doesn't mitt romney understand, we can't rebuild america...by tearing down the middle class. priorities usa action is responsible for the content of this advertising. >>> right now, we continue to follow breaking news on news 4 midday. the fbi is investigating an early morning shooting that killed a border patrol agent and injured another in arizona. it happened near the u.s./mexico border. the wounded agent was air lifted to the hospital and is expected to survive. >>> president obama and mitt romney are preparing for their first debate. the president is in nevada. his rival in denver, where tomorrow's debate will take place. runni innin inning mates come p battleground states. paul ryan wrapped up an event in clinton, iowa. s american airlines customers are dealing with unhappy pilots. seats broke mid flight. >> the passenger seats came loose out of the floor. >> eight planes grounded after three incidents where an
raising taxes on the average family by up to $2000 dollars. while giving a tax break of $250,000 dollars to multi-millionaires. doesn't mitt romney understand, we can't rebuild america...by tearing down the middle class. priorities usa action is responsible for the content of this advertising. >>> right now, we continue to follow breaking news on news 4 midday. the fbi is investigating an early morning shooting that killed a border patrol agent and injured another in arizona. it...
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Oct 3, 2012
10/12
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they are focused on new tax, on capital gains basically, wants the capital gain to be taxed at the same level as salaries and that's the problem for young entrepreneurs because when you create a small company, you don't pay yourself a huge salary, and the only way to make money out of it, to be rewarded for your hard work is to resale your company some years later, if it's successful, of course. and in that case, if you sell your internet company for perhaps ten million euros, you will have to pay up to 60% in taxes. that's their own calculations. that's to compare with 32% right now. that's the reason why they've created this movement on the internet. 23,000 fans on facebook, more than 5,000 followers on twitter. i'm not sure they're going to convince the government, but at least they managed to put the debate on the table. >> thank you very much. >>> elsewhere, ag bar has been ground an extension on their major talks. the u.s. takeover panel has given the two companies until the end of the month to decide on a potential 1.3 billion pound tie-up. meanwhile, another deadline also looms
they are focused on new tax, on capital gains basically, wants the capital gain to be taxed at the same level as salaries and that's the problem for young entrepreneurs because when you create a small company, you don't pay yourself a huge salary, and the only way to make money out of it, to be rewarded for your hard work is to resale your company some years later, if it's successful, of course. and in that case, if you sell your internet company for perhaps ten million euros, you will have to...
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Oct 5, 2012
10/12
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are you going to tax people ♪ if [ singing] bring down rates double down on the top down. simplify the code ♪ double double down. >> on the base. >> all over the internet as you can imagine. pretty clever. take as lot of work all right. >> on that note we move on and leave the debate behind. one final word. up next. scottish man dies and when he does he take the town whole language take the town whole language with him. 7 news >> in new jersey a mother and 5 chilen arekayfterumping toafetfrom the trd sty apartmenflamesraed th inside. t terfying mont we allaught on tape. here's the oldest one describe wagon happened. >> i jump out the window right there and landed right here on the awning and fell out rate here and help my family. >> people start coming. >>reporter: those people helped catch the rest of the family as you can see. first came 14-year-old girl tn th 8 and 9-yeaold then the year-old whoumped while holding on to her mother. amazing. family suffered bruises strains couple broken toe but obviously it could have been so much worse. >> contra costa county courts a
are you going to tax people ♪ if [ singing] bring down rates double down on the top down. simplify the code ♪ double double down. >> on the base. >> all over the internet as you can imagine. pretty clever. take as lot of work all right. >> on that note we move on and leave the debate behind. one final word. up next. scottish man dies and when he does he take the town whole language take the town whole language with him. 7 news >> in new jersey a mother and 5 chilen...
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Oct 9, 2012
10/12
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two-thirds of manufacturers pay taxes as as corporations, pay the individual tax rate. if you raise taxes on the supposedly wealthy in this country, what you're doing is you're distancing thing manufacturers from investing and creating jobs. retail is the same way. small businesses matter in this country. they are the job creators and we cannot penalize them for taking risk and creating jobs. >> you are also worried about the deficit. clearly america has large and ever-growing deficits. you propose a tax cut. that's deficit spending. >> wait a minute. first of all, this is a two-step deal. everybody knows we need the big deal and we talk about that in 30 seconds. but we're not going to get to the big deal by jumping off the bridge. and what we are saying is it is not the right thing to do you have the largest tax increase in history of america and to have $1.2 trillion worth of spending cuts that don't even look at medicare and medicaid. across the board without thinking through what this big deal is going to be. and anybody from either party hould come to a realization
two-thirds of manufacturers pay taxes as as corporations, pay the individual tax rate. if you raise taxes on the supposedly wealthy in this country, what you're doing is you're distancing thing manufacturers from investing and creating jobs. retail is the same way. small businesses matter in this country. they are the job creators and we cannot penalize them for taking risk and creating jobs. >> you are also worried about the deficit. clearly america has large and ever-growing deficits....
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Oct 1, 2012
10/12
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CSPAN2
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our tax rates and deregulate. in the book, i tell the stories of new disee zealand, israel, a number of countries that have faced crisis far exceeding our current predicament. and new zealand is one of favorites. it was the third richest country in the world in the 1930s and by the 1980s it was the third world country. and it couldn't even feed itself. and 5% -- 45% of all agricultural revenue came from the deposit. it was socially a socialist country. they flat end out all of their government spending. eliminating alling a churm sub i dids and new see land began feeding itself and became the great source of the food around the world and competed in dairy with wisconsin so aggressively that the wisconsin dairymen accused of them of unfair trading practice alls all the way from new zealand. it is the great vanity of bureaucrats that somehow their jobs are awfully important. but after the second world war, we eliminated 150,000 bureau crateds, millions of federal workers and the same economists are therefore bearers
our tax rates and deregulate. in the book, i tell the stories of new disee zealand, israel, a number of countries that have faced crisis far exceeding our current predicament. and new zealand is one of favorites. it was the third richest country in the world in the 1930s and by the 1980s it was the third world country. and it couldn't even feed itself. and 5% -- 45% of all agricultural revenue came from the deposit. it was socially a socialist country. they flat end out all of their government...
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Oct 6, 2012
10/12
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KNTV
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is trying to neutralize the attack, over his comments regarding 47% of americans not paying income tax. and see themselves as victims. a view he now disavows. >> sometimes you say something completely wrong. >> reporter: only three weeks ago he said the comments were not elegantly stated. now he disavows the comments, perhaps in time for the debate when president obama is expected to be ready for attack. >> thank you. >>> sue herrera has visited us from cnbc headquarters today here in our studios, by the way, the markets reacted in a big way today as job news, stocks closed at the highest level today in nearly five years, as you sue, know, all too well. what does it mean? >> i think it was a good report in one sense in that the economy is continuing to add jobs, but it was not a great report. we need to continue to see better numbers than this. 150 or 200,000 new jobs created for the next few months to get us back to levels of much better employment. it is a start, but not a great report. it is a start but not a good report. >> as we saw in andrea's set-up piece, the combination of the
is trying to neutralize the attack, over his comments regarding 47% of americans not paying income tax. and see themselves as victims. a view he now disavows. >> sometimes you say something completely wrong. >> reporter: only three weeks ago he said the comments were not elegantly stated. now he disavows the comments, perhaps in time for the debate when president obama is expected to be ready for attack. >> thank you. >>> sue herrera has visited us from cnbc...
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Oct 8, 2012
10/12
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$5 trillion in tax cuts that he can't pay for? not if i've got anything to say about it. >>> plus, a tea party group accused of hovering and getting into faces is under fire. congressman cummings is demanding answers. he's here exclusively. >>> and live from new york, it's me, our friends at "snl" took on yours truly and the msnbc team. oh, yeah, i've got something to say about it. you're watching "politicsnation" on msnbc. >> it's a mile below the earth so for him, speaking to colorado was like being flown two miles into the air and having to give a speech in outer space. an intense burning sensation i woke up with this horrible rash on my right side. like somebody had set it on fire. and the doctor said, cindie, you have shingles. he said, you had chickenpox when you were a little girl... i said, yes, i did. i don't think anybody ever thinks they're going to get shingles. but it happened to me. for more of the inside story, visit shinglesinfo.com mom? who's mom? i'm the giants mascot. eat up! new jammin jerk chicken soup has tas
$5 trillion in tax cuts that he can't pay for? not if i've got anything to say about it. >>> plus, a tea party group accused of hovering and getting into faces is under fire. congressman cummings is demanding answers. he's here exclusively. >>> and live from new york, it's me, our friends at "snl" took on yours truly and the msnbc team. oh, yeah, i've got something to say about it. you're watching "politicsnation" on msnbc. >> it's a mile below the...
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Oct 6, 2012
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buildings and properties in the city which don't pay taxes but use our services and use our roads, put the stress or extra burden on property taxpayers. that is part of the burden they have to bear for being the capital city and some times what the state wants to do doesn't necessarily follow the typical ordnances most businesses and residents have to comply with. city ordinances don't necessarily apply to the state so it can be a fraction point but we try to work through those things and understand the benefits of being the capital city far away from the down side that we have to deal with but the biggest challenge is always jobs and that is true of any community. you have seen what we have to offer. it is a vibrant community and there's a lot going on and a brand-new hospital coming online and brand new courthouse that is a $15 million project and the commerce center down the road that is the major construction. we are going to have a big construction project on the interstate that will make traffic move better and commercial development going on in this city and in the census we gai
buildings and properties in the city which don't pay taxes but use our services and use our roads, put the stress or extra burden on property taxpayers. that is part of the burden they have to bear for being the capital city and some times what the state wants to do doesn't necessarily follow the typical ordnances most businesses and residents have to comply with. city ordinances don't necessarily apply to the state so it can be a fraction point but we try to work through those things and...
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calling a tax on g.d.p. . well it's rather simple really if you have ten thousand units of production in an economy and ten thousand units of credit or currency and the government comes along and says ok we're going to deficit spend so we're going to put another thousand units into there then the value of all of the units of credit in currency that currently exists go down by that amount so this is exactly identical from a functional standpoint as if the i.r.s. man showed up on down your door. and so give me ten percent of everything you have . unfortunately that would be very unpopular if you were to turn around and tell the american public oh guess what your taxes are not going up ten percent of what you currently pay they're going up by ten percent of your income and the tax on everything that you produce as a company is going up by ten percent of your production and yet that is essentially what's been going on now for the last four years and so when we look at why we haven't seen job growth and economic re
calling a tax on g.d.p. . well it's rather simple really if you have ten thousand units of production in an economy and ten thousand units of credit or currency and the government comes along and says ok we're going to deficit spend so we're going to put another thousand units into there then the value of all of the units of credit in currency that currently exists go down by that amount so this is exactly identical from a functional standpoint as if the i.r.s. man showed up on down your door....
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Oct 5, 2012
10/12
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WJLA
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the real mitt romney's been running around the country for the last year, promising $5 trillion in tax cuts that favor the wealthy. >> reporter: obama campaign advisers were even more blunt, accusing romney of being dishonest on the debate stage. but some of the president's supporters and liberal pundits are baffled by what they saw as a passive performance. >> i felt like he should have been more aggressive. >> i don't know what he was doing out there. he had his head down. he was enduring the debate, rather than fighting it. >> reporter: president obama could have new worries today when the monthly job numbers come out. economists predicted the unemployment rate could go from 8.1% to 8.2%. >> critical numbers. tahman bradley live for us. thanks, tahman. >>> and one other campaign note this morning. a film dramatizing the raid that killed osama bin laden will make its debut just two days before the election. the national geographic channel denies there was any political motivation. it says the air date was chosen to kick off the fall season. >>> american airlines is cancelling or dela
the real mitt romney's been running around the country for the last year, promising $5 trillion in tax cuts that favor the wealthy. >> reporter: obama campaign advisers were even more blunt, accusing romney of being dishonest on the debate stage. but some of the president's supporters and liberal pundits are baffled by what they saw as a passive performance. >> i felt like he should have been more aggressive. >> i don't know what he was doing out there. he had his head down....
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Oct 4, 2012
10/12
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MSNBC
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i will lower taxes on middle income families. >> he's going to get rid of the estate tax, mr. mayor, which aims directly at the top rate. the people who have a quarter million bucks and want to leave it to their kids. it's nor the very rich. he wants to lower the top rate from 35% to 28% for the richest people in the country. he wants to take the corp rate rate from 35% to 25%. >> clearly at that stage mr. obama should have turned to him and said you are not telling the american people the truth. just as he did today in denver when he said he wasn't telling the truth. he should have looked him in the eye and said mitt romney, you are not telling the american people the truth. and then proceed to walk through as clinton would have done the mathematics to prove it. i don't think romney would have been smart enough to figure out how to get out of that hit, but obama ignored that opportunity and i think that's a mistake. joan, you're correct. he will everywhere he goes, he will save the day and correct what he didn't do last night, but 58 million people will not be able to be cont
i will lower taxes on middle income families. >> he's going to get rid of the estate tax, mr. mayor, which aims directly at the top rate. the people who have a quarter million bucks and want to leave it to their kids. it's nor the very rich. he wants to lower the top rate from 35% to 28% for the richest people in the country. he wants to take the corp rate rate from 35% to 25%. >> clearly at that stage mr. obama should have turned to him and said you are not telling the american...
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Oct 9, 2012
10/12
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massive tax increase. romney cannot defend this plan on its merits, so he simply says i'll negotiate this with congress. it doesn't matter what he negotiates, there's not enough money there. it's a simple matter of arithmetic. but he's being a smooth liar about this. >> is the mathematics policy? can you offset $5 trillion with big deductions by getting rid of them when he said tonight to accomplicer, i'm going to leave the mortgage preference, the charitable preference, what is left? >> first off, you're kind of misquoting what he said. number one, he said it's not a $5 trillion dr. >> 4.8. >> but it is. i don't care what he says, he's lying. it is $5 trillion. >> bob, let me make mire point. >> don't repeat his lie without any evidence. >> i'm not repeating it. the fact you call it a lie, you take that up with him. >> no, he's the one who's lying. >> let me make the point. how does it not -- >> the fact of the matter is he's identified that what he's going to do is limply fill the tax code in a number of
massive tax increase. romney cannot defend this plan on its merits, so he simply says i'll negotiate this with congress. it doesn't matter what he negotiates, there's not enough money there. it's a simple matter of arithmetic. but he's being a smooth liar about this. >> is the mathematics policy? can you offset $5 trillion with big deductions by getting rid of them when he said tonight to accomplicer, i'm going to leave the mortgage preference, the charitable preference, what is left?...
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Oct 6, 2012
10/12
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CSPAN
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when you take that with state income tax and payroll tax and real-estate taxes and gasoline taxes, all together that means small business that are highly successful will end up giving more of what they have the government. that will kill jobs. i do not want to kill jobs. my priority is to create jobs, and i will do that with everything i can do. we can do better. we do not have to stay on the path we have been on. there was a report that came out this morning on job creation this last month. there were fewer new jobs created this month than last month. the unemployment rate has come down very slowly, but it has come down nonetheless. the reason it has come down this year is due to the fact that more and more people have just stopped looking for work. if you drop out of the workforce, give up and say i cannot go back to work, i will stay home, if you drop out altogether, you're no longer part of the statistics. it looks like unemployment is getting better, but if the same share of people were participating in the workforce today as on day the president got elected, unemployment would be
when you take that with state income tax and payroll tax and real-estate taxes and gasoline taxes, all together that means small business that are highly successful will end up giving more of what they have the government. that will kill jobs. i do not want to kill jobs. my priority is to create jobs, and i will do that with everything i can do. we can do better. we do not have to stay on the path we have been on. there was a report that came out this morning on job creation this last month....
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Oct 1, 2012
10/12
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MSNBC
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the cut in tax rates. >> lowers all americans tax rates. >> how much does that cost? >> it's revenue neutral. >> it's not revenue neutral unless it takes away -- >> lowering tax rates by broadening the tax base -- >> you haven't given me the math? >> it would take me too long to go through all the math. >>> in massachusetts tonight, senator scott brown and his democratic challenge elizabeth warren face off in the second of four debates for that u.s. senate seat up there. david gregory will moderate it comes as new boston globe poll shows warren inching slightly ahead, 43% to 38%. still 18% of voters remain undecided there. the same poll conducted in may gave senator brown a two-point lead. >>> still ahead on "way too early," wow were the new york jets bad yesterday. shutout, blownout, injured on their home field. rex ryan's press game post conference the only highlight of the day. >>> and an incredible comeback by team europe at ryder cup. the united states entered sunday with a big lead and it's big guns on the course. we'll show you what happened in sports. all that
the cut in tax rates. >> lowers all americans tax rates. >> how much does that cost? >> it's revenue neutral. >> it's not revenue neutral unless it takes away -- >> lowering tax rates by broadening the tax base -- >> you haven't given me the math? >> it would take me too long to go through all the math. >>> in massachusetts tonight, senator scott brown and his democratic challenge elizabeth warren face off in the second of four debates for that...
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Oct 1, 2012
10/12
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KCSM
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>> such as reforming social security, medicare, higher taxes, lower taxes? >> yes. and on the table are all sorts of things that many people value a great deal and we may not be able to afford anymore. so should we have deductibility for second home mortgages? should we have deductibility for high-cost homes? should we have health insurance coverage provided by employers continue to be deductible? if so, for whom, should it be for all? and should we raise the age of entitlement, if so, to what level?" when someone says that about social programs, i want to also hear the answer to the question, "what are you doing with military spending? and how do you justify the tradeoff? we've gotta get the revenue someplace. where are you willing to cut? and if not, why not? when you're putting really valued things on the table. and simply saying that the wealthy are going to pay more doesn't solve the problem. the wealthy are going to need to pay more, but so is what most people define as the middle class, and there are going to be cuts across the board, including the military,
>> such as reforming social security, medicare, higher taxes, lower taxes? >> yes. and on the table are all sorts of things that many people value a great deal and we may not be able to afford anymore. so should we have deductibility for second home mortgages? should we have deductibility for high-cost homes? should we have health insurance coverage provided by employers continue to be deductible? if so, for whom, should it be for all? and should we raise the age of entitlement, if...
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its own police force, no income tax, no sales tax, no capital gains tax to all the property tax and no federal regulation. it sounds good to me. the man behind it joins us now from honduras. you came on the show a year ago to discuss the idea of a free city and its thousand you have made progress. >> we made considerable progress. we expect we will be able to break ground within 30 days after the honduran government finalizes the legislation identifying the regions and also appointing a governor. john: already the honduran legislature passed the bill authorizing the general principles 126-1. they are behind it. >> incredibly popular. congress realizes the best hope for prosperity is to create a special development regions. model that the special development regions that have been so spectacularly successful in china which has cities scale special development regions. also dubai which had 110-acre region that had its own legal system that imported british common law "by international financial center which resulted in billions of dollars of capital flowing in and one of the greatest fin
its own police force, no income tax, no sales tax, no capital gains tax to all the property tax and no federal regulation. it sounds good to me. the man behind it joins us now from honduras. you came on the show a year ago to discuss the idea of a free city and its thousand you have made progress. >> we made considerable progress. we expect we will be able to break ground within 30 days after the honduran government finalizes the legislation identifying the regions and also appointing a...
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Oct 2, 2012
10/12
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KTVU
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more for taxes and for your medicine. >> reporter: campaign staffers say he has lowered taxes and his claim is mostly true, both candidates are spending the day off the campaign trail practicing for tomorrow's big day. mitt romney is softening his stance on a key immigration issue and now he is saying he will honor temporary work permits, allow them to stay in the united states because of president barack obama's recent executive order. reporting live from washington d.c., allison burns, ktvu channel 2 morning news. >> don't forget, we will bring you the coverage live and the debate will be followed by a special addition of our ktvu news. >>> and they are warning about identity theft after several male thefts were reported in novato. 2 dozen mailboxes were reported on school road and crest road. the mail stolen included personal checks, credit cards and other items containing financial information. if you have any information about these thefts, get in contact with the police. >>> in berkeley, get in contact with the city lie -- sit-lie ordinance where people would be banned during ce
more for taxes and for your medicine. >> reporter: campaign staffers say he has lowered taxes and his claim is mostly true, both candidates are spending the day off the campaign trail practicing for tomorrow's big day. mitt romney is softening his stance on a key immigration issue and now he is saying he will honor temporary work permits, allow them to stay in the united states because of president barack obama's recent executive order. reporting live from washington d.c., allison burns,...
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Oct 8, 2012
10/12
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CSPAN2
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going back to tax. your premise is that people are making a decision between -- even i income people who, you know, are certainly high income people consume that you were saying they are making the choices about investment versus consumption, based on taxes. i sort of imagine, i'm a, not sure how rich were talking about but at some point you of certain level of wealth, it seems to me people kind of by what they want and then they invest the rest. but you are saying you think actually that they buy more if tax rates were higher. you think i would have an important impact. >> guest: all the time i take the point it takes a lot. yes, i think, yes, but i would say it compounds gradually over time into the point where what you want, i think what is lost in this equation is how do you really get rich as an investment. you satisfy customers. customers are what makes you rich. they say you're the guy who is satisfy my needs, not that guy over there who is not getting rich. so what you really want, talent people
going back to tax. your premise is that people are making a decision between -- even i income people who, you know, are certainly high income people consume that you were saying they are making the choices about investment versus consumption, based on taxes. i sort of imagine, i'm a, not sure how rich were talking about but at some point you of certain level of wealth, it seems to me people kind of by what they want and then they invest the rest. but you are saying you think actually that they...
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i ok at this story and that thing, this sounds like a tax to me. >> not only is it a tax, it does not take into account -- it does not seem to take into account the things that should. it is a pretty blanket statement. rea missions are extremely complex, and there is absolutely nothing in these reports that i have read that tlks about the patient and of the equation. what are the issues that are happening on the user and? and those have to be discussed among but i suppose that we don't want to discuss those things in an election year. gerri: and also, it begs the question, are you taking power out of the hands of the doctors and hospitals to back to busty making these decisions about care. i don't think so. a lot of things occur in the admission process, and smart hospitals, good hospitals are getting on top of this. for instance, in our community we have hospital in plano, texas. texas health resources. there is a group of really hard-core nurses and anybody who is a physician knows when talking about. you don't mess with these ladies. they have taken the bull by the horns and transf
i ok at this story and that thing, this sounds like a tax to me. >> not only is it a tax, it does not take into account -- it does not seem to take into account the things that should. it is a pretty blanket statement. rea missions are extremely complex, and there is absolutely nothing in these reports that i have read that tlks about the patient and of the equation. what are the issues that are happening on the user and? and those have to be discussed among but i suppose that we don't...
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Oct 9, 2012
10/12
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there aren't enough tax loopholes or tax deductions to pay for romney's tax cut unless you cut into home interest mortgage deductions, unless you get rid of state and local taxes. that will hit the middle class hard. you have to be honest about this. the debate hurt obama and helped romney, and romney's gotten a bump in the polls, although it seems to be flattening out. you look at the new poll in ohio, the president is at 51%, ronl is at 47%. i think the president, the fundamental structure of the race hasn't been changed, but if he doesn't go on the attack, if biden doesn't do a good job against ryan, and if the president doesn't show up and isn't strong in the second debate, then you're going to have a tossup race. >> well, i would disagree with your approach, first of all. i don't approach that way. that's going back and relate gating all the old arguments. in spirit what i would do unlike shrumy, i would take the big issue that is separate the candidates, don't get into the little trench warfare about what's your tax plan and where were you on medicare two weeks ago. i would say whe
there aren't enough tax loopholes or tax deductions to pay for romney's tax cut unless you cut into home interest mortgage deductions, unless you get rid of state and local taxes. that will hit the middle class hard. you have to be honest about this. the debate hurt obama and helped romney, and romney's gotten a bump in the polls, although it seems to be flattening out. you look at the new poll in ohio, the president is at 51%, ronl is at 47%. i think the president, the fundamental structure of...
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tax experts said today 90% of american families are facing llat they call unprecedented tax increases. how much? wyatt andrews is in washington tonight. intt? >> reporter: scott, according to the non-partisan tax policy center, the united states is now on the threshold of one of the largest tax increases in history-- a tax hike that could average $3,500 for every american household. without action by congress, the report says, taxes will go up next year by 20%-- $536 billion overall and will hit americans at every income level, including those living below the poverty line. for a middle-income family making $40,000 a year, taxes will go up by $2,000. the increases are so large secause the nation's biggest tax cuts all expire three months from now on new year's day. cludeinclude the bush-era federal income tax cuts, the payroll tax cut that lowered social security and medicare taxes, and several remaining stimulus tax cuts all go away january 1 unless congress and the president reach a deal on the budget. e ny economists are concerned that a tax increase of that size could shock the ec
tax experts said today 90% of american families are facing llat they call unprecedented tax increases. how much? wyatt andrews is in washington tonight. intt? >> reporter: scott, according to the non-partisan tax policy center, the united states is now on the threshold of one of the largest tax increases in history-- a tax hike that could average $3,500 for every american household. without action by congress, the report says, taxes will go up next year by 20%-- $536 billion overall and...
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wealthy huge new tax breaks? because according to experts, he would have to raise taxes on the middle class, or increase the deficit to pay for it. if we can't trust him here, how could we ever trust him here? >> roller coaster week hitting a high note for president obama. the new jobless numbers are easing the pain of his poor debate performance and bring romney's momentum to a sharp stop or it may not. joining me now, "new york times" columnist, nick kristof. let's start with the job figures today. because it's clearly good news for barack obama politically if nothing else. >> not only the numbers today but the revisions for the last two months. we seem to really be on a trajectory and you know, this is going -- apparently what really matters is not the economy for the year but the economy at the moment as people approach the election. people are beginning to vote. >> the good news for barack obama there. not so good news his performance at the debate. common consensus is a bit of a turkey. >> he blew it. >> wh
wealthy huge new tax breaks? because according to experts, he would have to raise taxes on the middle class, or increase the deficit to pay for it. if we can't trust him here, how could we ever trust him here? >> roller coaster week hitting a high note for president obama. the new jobless numbers are easing the pain of his poor debate performance and bring romney's momentum to a sharp stop or it may not. joining me now, "new york times" columnist, nick kristof. let's start with...